M&G Investments, a London-based international investment manager with $465.7 billion in assets under management and administration, has chosen Chicago as the location of its headquarters for the Americas, the company announced today in a news release.

Anthony Balestrieri 3rd will lead the new Chicago team as president and chief investment officer. Balestrieri joins M&G from PPM America, Inc., where he worked the past 16 years, most recently as an executive vice president and chief investment officer on the total return fixed income team.

Nelson Zamora 3rd joins M&G in Chicago as chief operating officer. Zamora, a CFA charter holder and member of the CFA Institute, was formerly chief risk officer and executive vice president and head of quantitative research at PPM America Inc. for 15 years before founding a consultancy service last year.

When fully operational later this year, the 35-person Chicago office will house portfolio management and research, equity and fixed-income dealing desks, and a full team of support professionals. M&G already has sales offices in New York City and Miami, in addition to sales and investment offices in 22 other cities across Europe and Asia.